Michael Myers Racing to present investors the chance to purchase shares in the team’s new Tatuus USF-22
LIZTON, Ind. – Michael Myers Racing (MMR) has chosen a unique path as they look to the future of their Cooper Tires USF2000 Championship program, as the team announces the opportunity for investors to purchase shares in their new Tatuus USF-22 race car.
The Indiana-based team, run by driver Michael Myers and his father Mike, competes in the first rung of the Road to Indy Presented by Cooper Tires junior formula ladder. The young Myers, 19, began his racing career at the age of nine, competing in cross country off-road racing. Moving to open wheel racing last season, Myers chose to contest the 2021 USF2000 season with his family-owned operation – which has decided to pursue a distinctive path to fund their racing effort.
According to the series, the 2022 upgrade kit includes a new, wider monocoque with the addition of a Halo as well as new sidepods, underfloor, engine cover, air ducts, damper covers and fuel cell. While the team is thrilled with the safety and performance enhancements that come with the upgrade, the purchase of the new kit for its No. 42 Metalloid/Sturgis Finishing/Myers Garage Tatuus was an unanticipated expense.
The MMR portfolio offers seven different levels of investment opportunity, from 10 shares of the new car all the way to 49 shares, which would involve co-ownership of the car. The primary objective of purchasing shares is to assist MMR in raising funds to cover the cost of the already ordered USF-22, while providing shareholders many unique opportunities at a low cost and low risk, as opposed to a traditional “sponsorship”.
Mike Myers, who owns an automotive repair business in Lizton, Ind., understands the industry from the ground up. He has assisted his son’s racing career from its earliest days in cross country off-road racing and realizes that each step of the junior formula ladder becomes incrementally more expensive – even more so when the expense was not planned.
“It’s tough being a car owner, team owner and financing two-thirds of the racing as a small business owner,” said Mike Myers. “I cover crash damage and about half the expenses of a race weekend, which includes travel and equipment. So, we are looking to broaden our relationships in the sport, bring some other people into the program, while offering some safety to those who would like to get involved – because if, for some reason, we are not able to race next year, they get their money back. It’s a much more financially sound option for a person or a company than simply sponsoring a team.”
The MMR investment portfolio offers something unique in motorsports marketing – the opportunity to invest in a physical item, i.e., the race car itself. The offer is simple: a potential investor puts money toward the upgrade of the car to the new Tatuus USF-22 platform and in return, would be able to make use of the MMR team in their advertising and marketing.
For example, the team would provide the car for on-site company functions, or have Myers speak at company events. A potential investor could also engage in business-to-business activities at the NTT INDYCAR SERIES race weekends that feature the USF2000 series, reaching a much broader audience than would be possible in any other junior formula race series in the country. The team would also generate standard and social media content for the investor within the racing context.
“To be part car owner would give someone a very different perspective,” said Mike Myers. “It makes for a very personal experience. We are a small, family team, and anyone who would invest in the car would become part of that, joining us at race weekends and being a part of the action. We’d also offer the car for promotional activities on off weekends. We’re lightweight and flexible, which makes it so much easier than it might be for a bigger team.
Young Myers sees the potential involved in bringing on one or more investors to the program. As the owner of his own marketing agency, Myers understands how important it is to a sponsor or investor, to feel that their return on investment justifies the expense.
“It’s a unique approach,” said Michael Myers. “I’ve never seen this done before, offering the actual car. I’m looking forward to bringing on people who really care about racing and introducing them to this program. Since I’m involved on a day-to-day basis with the team, it would be a much more personal driver-investor relationship. Plus, I can bring my marketing experience to the relationship. I build websites, do graphic design, social media and SEO work, the whole range of services that I’m already bringing to our current sponsors and investors. I have many different and unique connections that I’ve made through this work, and obviously I bring that to the table as well. To bring all these different facets together is really my goal.
“Putting together this program has really opened my eyes to a lot more possibilities,” Myers continued. “So right now it’s all about expanding my network and finding the right people to join our team. It’s an experience you can’t find anywhere else. I hope to bring on a new group of people and have them join us on our march up the Road to Indy ladder.”
Next up for Michael Myers Racing will be the penultimate race weekend of the season, the triple header at New Jersey Motorsports Park August 27-29, with each session live streamed at USF2000.com and the Road to Indy TV app!